COMPETITION FAQ
General
Q. Who is behind the competition?A. Imagine H2O is a not-for-profit company with a mission to inspire & empower people to solve water problems. For more information on Imagine H2O, please visit www.imagineh2o.org.
Q. What is the mission of the competition?
A. Imagine H2O’s prizes are designed to inspire new, creative solutions to the water crisis as well as to raise public awareness and draw together a heretofore disconnected group of business, non-profit, academic, and governmental stakeholders to rally around the importance of water innovation.
Q. How does the competition work?
A. Generally speaking, the competition is a business plan competition for new or early-stage water efficiency businesses. Competing teams submit an entry, including an Executive Summary of their businesses. A Selection Committee determines which teams advance and ultimately win prizes. For official rules and information, please review the Competition Terms.
Q. Why is the inaugural competition focused on water efficiency?
A. Clean water scarcity is perhaps our greatest global humanitarian crisis, and has become an acute economic, political, environmental, and social issue in the U.S. and all over the world. Reducing demand and making use more efficient is an important step in addressing the problem. Efficiency provides a range of benefits. Please click here for more information on water efficiency.
Application, Fees and Judging Process
Q. Who can enter the competition?
A. Anyone can enter the competition provided they meet the eligibility requirements. Click here for more details on these requirements.
Q. How do I enter the competition?
A. Click here for complete details on how to submit an entry.
Q. What is the cost to enter the competition?
A. Entry fee per team is listed in the Competition Terms. Regular entry fee is $100. The student entry fee is $50. Please see the Competition Terms for more details.
Q. What should I include in my Executive Summary?
A. Click here for Submission Guidelines.
Q. How do you define “Water Efficiency”?
A. Please click here to review the Competition Terms for the official definition.
Q. What are some examples of “Water Efficiency” businesses?
A. Some examples of water efficiency businesses include:
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Demand response
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Recycling and reuse
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Measurement of water use (such as water foot-printing)
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Metering of water use
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Information gathering, analysis and processing leading to better water use or lower demand
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Reducing or fixing leaks
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Reducing water required to grow crops
A. No. Meeting the definition of a Water Efficiency Business is an eligibility requirement. Please see the Competition Terms for details.
Q. Is the social impact assessment question judged?
A. You are required to complete the social impact question, per the application instructions, but the Selection Committee will not score your answer.
Q. Since the social impact assessment is not scored, why is it on the application?
A. Imagine H2O hopes that submissions will be successful, and will make a positive impact on the world. However, accurately grading or scoring a submission’s likely projected future social impact would be difficult in the format of the Competition. Instead, we want to encourage entrepreneurs to think through the potential impact of their businesses, and the tradeoffs they might encounter. Although we believe that a business that focuses on water efficiency is likely to make a positive social impact, there may still be intended or unintended tradeoffs. We ask the question to encourage entrepreneurs to think about those issues, and we hope to be able to provide related coaching and mentorship to finalists.
Q. Can I change my executive summary after I have submitted it?
A. Yes, you can change your executive summary as many times as you like before 11:59pm PST on November 16, 2009 via the “Manage my entry” link that will be sent in your YouNoodle confirmation email.
Q. What services and benefits will entrants receive?
A. For more details on the services and benefits provided to entrants, click here.
Prizes
Q. How many prizes are there and what is included?
A. Please see the Competition Terms for details on prizes.
Q. Are there any restrictions on how the prizes can be used?
A. Yes. The cash must be used to pursue the business as described in your business plan. See the Competition Terms for official terms.
Q. The in-kind service providers are not located in the same city as I am. How can I participate in the incubator?
A. Most of the services included in the incubator are virtual. We are also working on partnerships with physical incubators in different geographic regions to provide additional support. For more information on the incubator, click here.
Eligibility and Rules
Q. Am I / is my organization eligible to compete?
A. Click here to visit the Competition Terms for details to determine your eligibility.
Q. Do I have to give anything back to Imagine H2O if I win?
A. No. There are rules in the Competition Terms that govern use of funds, but Imagine H2O does not require any payback or investment.
Q. Are non-profits eligible to participate in the competition?
A. No. Please review the Competition Terms for eligibility guidelines.
Q. Is there a restriction on the amount and type of investment a venture has previously secured?
A. Yes. Please review the Competition Terms for eligibility guidelines.
Q. Is there a restriction on number of years that a venture has been in operation?
A. Yes. Please review the Competition Terms for eligibility guidelines.
Judging Criteria
Q. How is the competition judged?
A. Please refer to the Competition Terms for official judging criteria. A panel of high-profile professionals with expertise in water, entrepreneurship, and investing will evaluate Competition submissions and presentations (the “Selection Committee”). All submissions and presentations will be evaluated by the Selection Committee based on their commercial promise and viability. The judges will look at the following criteria in determining commercial promise and viability:
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Market opportunity
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Customer value proposition
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Go to market progress and strategy
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Competition
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Financial plan
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Team
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General quality of the presentation and pitch
Q. Our startup will have tremendous environmental impact but our projected financial results are not as strong. Are we at disadvantage in comparison to other teams that have higher returns in the short-term?
A. Please review the judging criteria in the Competition Terms. In general, your business must be a water efficiency business to be eligible. However, the judging criteria then focuses on the commercial promise and viability of your business.
Q. Our team is addressing an environmental problem that requires more than five years to scale up and to become financially attractive. Do we have a chance to win the competition?
A. Please refer to the judging criteria in the Competition Terms. In general, we are looking for entries that can demonstrate evidence of commercial promise and viability and scale their businesses within a five year time frame. If your business does not meet this time frame, we recommend focusing on how you will show significant increase in value within that time frame, or focus on how you can show scale within a short time frame.
Intellectual Property
Q. How will contestants be assured that their technologies, concepts, and inventions will not be stolen during the contest?
A. We appreciate your concern regarding this matter. Please review the Competition Terms for details on Intellectual Property.
Sponsorship
Q. How can I learn more about becoming a sponsor?
A. Click here for more details on opportunities for sponsorship & donations.
Account and Profiles
Q. How do I create a YouNoodle account?
A. Please visit the How Do I Enter? page for help.
Q. What if I did not receive a confirmation email after submitting my entry?
A. You should receive a confirmation email after submitting your entry. If it does not show up in your Inbox, try checking your Spam/Junk Mail folder. If the email is not there, please contact us at prize@imagineh2o.org.
Q. Who can I contact if I have other problems?
A. If you have any questions about using the Younoodle platform, or any technical issues, please contact Younoodle at heesun@younoodle.com.
If you have additional questions about the competition, please consult the About FAQs, Submission Guidelines, and Competition Terms. If you still require assistance please contact prize@imagineh2o.org.
Prairie Grasslands, Western KY
Photo courtesy of Robert Dawson
